XAUUSD 13 - 17 May 2024
Updated
Dear friends,
Last week gold found consolidation around the 2350 zone and after the breakout it moved to the 2380 levels. we always look at the first daily candle so Monday is usually slow. If the candle closes below 2340 levels and after that the 2332 zone then we can say there is a strong reversal in gold and the next zones to look at will be 2320 and 2300 levels. When gold takes the 2300 levels we can officially say gold is now turning bearish and more bears will be interested in bringing Gold more to the downside. On the upside last week the bears came back and also with the tension building up between the USA and Israel about not supplying the war anymore Gold made a good comeback from the 2300 zones. In a bullish case we will be active if Gold breaks the 2371 levels and aim for the 2500 levels as mentioned a few weeks ago.
In a bullish case we will be active from 2371 (high risk) the best zone to buy is above 2382. The critical zones are 2382 - 2389,5 - 2320 - 2400 - 2412 - 2425/30 - 2450 - 2468 and after that 2500 or the moon.
In a bearish case we will be active from 2354/52 (high risk) the best zone to sell will be after 2342/40. The critical levels are 2342/40 - 2328/26 - 2314 - 2300 - 2270 and 2260.
We will keep you all updated with regular updates throughout the week. Don't forget to like, comment and follow to support me, i really appreciate it!
I wish you a good week, trade with a stop loss and I hope you all get rich!
Last week gold found consolidation around the 2350 zone and after the breakout it moved to the 2380 levels. we always look at the first daily candle so Monday is usually slow. If the candle closes below 2340 levels and after that the 2332 zone then we can say there is a strong reversal in gold and the next zones to look at will be 2320 and 2300 levels. When gold takes the 2300 levels we can officially say gold is now turning bearish and more bears will be interested in bringing Gold more to the downside. On the upside last week the bears came back and also with the tension building up between the USA and Israel about not supplying the war anymore Gold made a good comeback from the 2300 zones. In a bullish case we will be active if Gold breaks the 2371 levels and aim for the 2500 levels as mentioned a few weeks ago.
In a bullish case we will be active from 2371 (high risk) the best zone to buy is above 2382. The critical zones are 2382 - 2389,5 - 2320 - 2400 - 2412 - 2425/30 - 2450 - 2468 and after that 2500 or the moon.
In a bearish case we will be active from 2354/52 (high risk) the best zone to sell will be after 2342/40. The critical levels are 2342/40 - 2328/26 - 2314 - 2300 - 2270 and 2260.
We will keep you all updated with regular updates throughout the week. Don't forget to like, comment and follow to support me, i really appreciate it!
I wish you a good week, trade with a stop loss and I hope you all get rich!
Note
Keep in mind we are trading in a bearish channel as you can see in the charts (the blue lines) if gold beaks out at around the 2370/2380 zones there will be more bullish momentum.Note
We are ready for the new trading week 💯Note
We are in a sell from 2352 target 2343/2338Trade closed: target reached
Note
Risky buy from 2340 target 2353 SL 38Trade closed manually
I think we are going to look for some sells at 2346/48 zone SL 2351Trade closed: target reached
2338 reachedNote
Buy 2335/37 zoneTrade closed manually
We wait for tomorrowNote
Sell from 2349/51 zone SL 2354Trade active
Sell from 2358. SL 2361
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